Tech Mahindra dips 3% on BSE on weak Q2 results

Tech Mahindra dips 3% on BSE on weak Q2 results

Mumbai: IT Firm Tech Mahindra on Wednesday fell by nearly 3% on the Bombay Stock Exchange, after the company reported a decline in its profit for the second quarter.

Shares of Tech Mahindra dipped 2.73% on the BSE to Rs764.10 during the early trading hours.

Yesterday, the company had posted a fall of 10.83% in its profit at Rs150.67 crore, on account of a charge of Rs36.70 crore it incurred due to its shareholding in Mahindra Satyam.

Tech Mahindra in April 2009 had acquired scam-hit Satyam Computer and rebranded it as ‘Mahindra Satyam´.

On National Stock Exchange, too, the scrip witnessed a similar downtrend and slid by 1.57% to Rs774.

On the volume front, over 1.96 lakh shares of the company changed hands during the morning session.

Meanwhile, the broader gauge Sensex was trading at 20,197.49, down 23.90 points from the previous close.